anyone familiar with SMIA's?
recently chatted with an investment advisor who suggested that I take a hard look at SMIA's. (secondary market income annuitiy). This is where they buy annuitized settlements for cash, and then resell them as an annuity.
The rates are typically 2% higher than a spia, and must be approved by the court that handled the original settlement.
At least, that's how I understand it
Has anyone else looked at these?